Strategic Partnership Follows PIPE Investment in EVBox's
Planned Business Combination with TPG Pace Beneficial Finance
Corp.
WICHITA, Kan., Feb. 10, 2021 /PRNewswire/ -- Koch Strategic
Platforms ("KSP"), a subsidiary of Koch Investments, announced
today a strategic partnership with EVBox, a pioneer in the
development of electric vehicle ("EV") charging station solutions.
KSP is a newly formed group created to evaluate growth
opportunities and investments in companies working in "new economy"
areas. KSP aims to be the preferred partner beyond capital
investment by leveraging the resources and capabilities of Koch
Industries – not only creating new platforms for Koch but also
accelerating growth for companies in which it invests.
Founded in the Netherlands with offices across
Europe and North America, EVBox recently agreed to a
business combination with TPG Pace Beneficial Finance Corp. (NYSE:
TPGY.U, TPGY, TPGY WS), which will result in the company being
publicly listed on the NYSE and provide it with growth capital for
expansion. Koch Investments is participating in that transaction as
an investor in TPG Pace's fully committed Private Investment in
Public Equity ("PIPE"), which will provide EVBox with additional
growth capital to expand its reach globally.
As part of the partnership, KSP will help EVBox continue to
scale its operations across North
America. KSP and EVBox will explore opportunities to
leverage the power of Koch companies' leading market positions to
accelerate the growth of EVBox in the
United States and around the world. The two companies will
look to collaborate on matters ranging from software and hardware
technology integration, project management, operations excellence,
and domestic sales and marketing.
Additionally, the companies will evaluate charging station
installations at various Koch corporate locations around the world.
Koch Industries is the largest privately held company in
North America with more than
$115 billion in revenue, according to
Forbes, and more than 122,000 employees globally.
"Koch is very excited to invest in and partner with EVBox as it
continues to grow and build on its strong momentum," said
Steve Feilmeier, President of Koch
Investments. "For over a decade, EVBox has been a global leader in
charging strategies and solutions, having shipped more than 200,000
charge points to customers in 70 countries. With its
market-leading, flexible architecture software-enabled platform
designed to meet the needs of a broad range of customer segments,
EVBox is an ideal candidate for rapid expansion in the U.S."
"As we position EVBox for global expansion, this partnership
with KSP will provide us with tremendous insights and strategic
growth opportunities to bring our market-leading charging solutions
to the United States and beyond,
while empowering KSP to help accelerate transformative energy
solutions for consumers across the globe," said Kristof
Vereenooghe, President and CEO of EVBox Group. "Our mutual focus on
developing innovative products and services that improve lives and
consume fewer resources, combined with TPG Pace's extensive track
record of supporting high-growth ESG companies, will further
position EVBox to accelerate the next step in its growth strategy
as the world moves toward EV adoption globally."
"The world continues to see significant change as technology and
innovation impact everything we do," says David Park, President of Koch Strategic
Platforms. "Our investment in EVBox demonstrates Koch's continuous
commitment to evaluating specific industries for potential
investment opportunities, including the energy transformation
space."
The strategic relationship with EVBox represents a broader
developing relationship between Koch Investments and TPG Pace. Koch
Investments also participated in the recent TPG Pace transaction
with Nerdy (NYSE: PACE), leading direct-to-consumer, curated gig
economy platform for live online learning benefiting both learners
and experts.
About Koch Strategic Platforms
With offices in Atlanta and
Wichita, KSP desires to be the
preferred investment partner with growth focused, strategic
companies who are innovating in "new economy"
industries. Created in 2020, the KSP team pursues public and
private investments with companies where long-term mutual benefit
can be realized.
About EVBox Group
Founded in 2010, EVBox Group empowers forward-thinking
businesses to build a sustainable future by providing flexible and
scalable electric vehicle charging solutions. With its extensive
portfolio of commercial and ultra-fast EVBox charging stations, as
well as scalable charging management software engineered by Everon,
EVBox Group ensures that electric mobility is accessible to
everyone.
EVBox Group is a leader in R&D, with facilities across
Europe and North America developing groundbreaking
electric vehicle charging technology. With offices across the
globe, including Amsterdam,
Bordeaux, Munich, and Chicago, and strong foundations in dozens of
markets, EVBox Group is working to shape a sustainable future
of transportation.
In 2021, EVBox Group will become a public company listed on the
New York Stock Exchange via a business combination with TPG Pace
Beneficial Finance (NYSE: TPGY) and initial investors BlackRock,
Inclusive Capital, Neuberger Berman Funds, and Wellington
Management.
About TPG Pace Group and TPG Pace Beneficial Finance
TPG Pace Group is TPG's dedicated permanent capital platform.
TPG Pace Group has a long-term, patient, and highly flexible
investor base, allowing it to seek compelling opportunities that
will thrive in the public markets. TPG Pace Group has sponsored
five special purpose acquisition companies ("SPACs") and raised
more than $3 billion since 2015.
TPG Pace Beneficial Finance raised $350
million in its October 2020
IPO in order to seek a business combination target that combines
attractive business fundamentals with, or with the potential for
strong environmental, social and governance ("ESG") principles and
practices. For more information,
visit https://www.tpg.com/pace-beneficial-finance.
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